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Chocolate Corner Company had the following transactions during the current year: Apr. 8. Received a $7,050,75-day, 8% note from Lance Armstrong in payment of account.
Chocolate Corner Company had the following transactions during the current year: Apr. 8. Received a $7,050,75-day, 8% note from Lance Armstrong in payment of account. May 24.Wrote off customer Joe Nutella's account against the Allowance for Uncollectible Accounts, $150 June 22. Recelved payment of Lance Armstrong's note in full. Sept. 10.Gave a $5,600, 90-day, 9% note to Herbert Anson in payment of account. Sept.18. Recelved payment of Joe Nutella's account, written off May 24. Dec 9. Paid principal and interest due on note to Herbert Anson. If needed record the above transactions in general journal form. The balance of Notes Recelvable at April 10th Is: Multiple Choice $575 $150 None of the other alternatlves are correct $7,050 $7,200
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